ABC Guide To Your Credit Application

Our ABC business credit application process comprises of three essential ingredients that you should include when preparing your credit application. To make the process easier, we’ve provided some online tools that you can access below or you could arrange a meeting with your local Relationship Manager to discuss.

  • Application

    Download a copy of our Business Loan Application Form, or pick one up at your nearest branch. In order to complete it, you will need the following accompanying documentation:

    • Tax clearance certificate
    • Personal details of business owner – assets/liabilities/income
    • Existing assets/liabilities of the business
    • Business and personal bank statements1
    SME Lending Application FormViewPrint

    The business owner’s credit history will also be taken in to account in order to give us a clearer picture of your financial circumstances. In addition, the application form will ask you to outline the amount and purpose of the requested loan and how the new funds will benefit your business.

  • Business plan

    Your business plan allows us to assess the potential of your business so that we can help you achieve it. It is an invaluable document for your business, which should:

    • Set out the main opportunities and challenges for your business
    • Demonstrate that there is a good existing or potential market
    • Show that you are planning for the future
    • Display your flexibility to effectively deal with any future issues
    • Show that you have carried out a sensitivity analysis on assumptions made in relation to business growth projections.
  • Cash flow

    Preparing a cash flow forecast is integral to managing your business. It is useful for predicting the future cash needs of your business and helps the bank determine your ability to repay the loan over the specified term. The document should provide a detailed overview of the inflows and outflows of your business each month and should include the following information:

    • Sales and cost of sales
    • Timing of sales and payments
    • Existing debtors and creditors

 

1 Personal statements, where required, will only be requested in compliance with the provision of the Data Protection Act.

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